The Euro remains in near-term range trading, following repeated stall of attempts at 1.34 resistance zone, seen yesterday. Near-term studies weakened and trade in the range’s lower part, following pullback of 1.3398, yesterday’s rejection level and high of the day. Break of either side of the range is required to define near-term direction, with loss of range’s floor and near-term base, seen as a trigger for bearish resumption towards psychological 1.33 support and acceleration lower to expose 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend and 1.3209, Fibonacci 100expansion of the third wave which commenced from 1.3699, 01 July lower top. Alternatively, sustained break above near-term range tops, just above 1.34 level, is required to bring bulls in play and spark stronger recovery action towards then next pivotal barrier at 1.3343, 01 Aug lower top.

The pair holds positive near-term tone, as the price retraced the biggest part of 102.70/102.12 corrective pullback and aims at 102.70, as initial target. Positive near-term studies support fresh attempt at 102.70, for eventual attack at pivotal 103 resistance zone, above which to expose the upper boundaries of short term range. Corrective easing ahead of 102.70 barrier, should be ideally contained at 102.40 zone, to keep near-term bulls intact.